de facto corporation Meaning in the Cambridge English Dictionary
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Meaning of “de facto corporation” in the English Dictionary

"de facto corporation" in Business English

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de facto corporationnoun [C]

uk   us  
in the US, a corporation that is ​allowed to continue to exist, although it has not been ​officially made a ​corporation by ​law: The ​courtfound that, when a ​personbuysstock of a de facto ​corporation, he cannot ​avoidpayment by showing that the ​corporation was not ​legallyorganized.
(Definition of de facto corporation from the Cambridge Business English Dictionary © Cambridge University Press)
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